From today, new rules from the Financial Conduct Authority (FCA) come into force which will put common sense at the heart of the mortgage market and prevent borrowers ending up with a mortgage they cannot afford. The key changes, which are the outcome of the FCA’s mortgage market review (MMR), mean that most people will […]
New mortgage lending rules, developed by the Financial Conduct Authority (FCA) following its mortgage market review, will take effect from Saturday 26 April, and will see prospective homebuyers and movers facing more scrutiny of their outgoings when applying for a mortgage. Matt Sanders, Gocompare.com’s mortgage spokesman, said: “For some time now lenders have been requiring […]
Barclays is making further cuts to its residential mortgage range, reducing rates by up to 70 basis points and launching new remortgage offers designed to help over 3.1m borrowers save money on their mortgage. Coming into effect from Friday 21 June, the “Great Escape” range of remortgage offers is expanded with a new option specifically […]
Two thirds of affordable housing sales accounted for by first time buyers This review of ‘Affordable’ Housing looks at the low cost home ownership (LCHO) sector and, in particular, affordable housing schemes covering shared ownerships, shared equity, resale price covenants and other LCHO arrangements. Data is from the Halifax housing database for the period 12 […]
Post Office intends to lend £2.5bn to mortgage borrowers by year end Fifty mortgage specialists in place by end of June The Post Office has today launched a major assault on the mortgage market with its intention to lend £2.5bn by the end of the year. Post Office will increase the amount it lends in […]
In the 12 months to April 2013 UK house prices increased by 2.6%, down from a 2.7% increase in the 12 months to March 2013. House price growth remains stable across most of the UK, although prices in London are increasing faster than the UK average. The year-on-year increase reflected growth of 2.8% in England […]
Yorkshire Building Society has been named Most Trusted Financial Services provider and Most Trusted Savings Provider in the 2013 Moneywise Awards, highlighting the faith placed in the UK’s mutual sector. Now in their fifth year, the Moneywise Awards are determined by an annual survey where over 20,000 British consumers offer their opinions on the service […]
Yorkshire Building Society is maintaining its reputation for offering competitive mortgages with the announcement that it will make price reductions to its longer term products. From Thursday 20th June the Yorkshire will be cutting the rate on its ten year mortgage to 3.89%, 75% LTV (loan to value) and it is available fee free. They will […]
Half of homeowners (7 million) admit their home is in need of some repairs The most common problems include broken fences, mould/damp and overgrown gardens But more than half of people who need repairs can’t afford the necessary work 7 million homeowners say their home is in need of some repairs, according to new research* […]
The interest rates across LV=’s lifetime mortgage have been cut by 20 basis points. For customers up to 80 years old the interest rate is now 5.79% AER, with those between 81 and 85 years old receiving a rate of 5.99% AER. See table below for full list of new rates. Lifetime mortgage (lump […]
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